COVID-19: Retrenchments

[RadX]

All time high

 

https://www.channelnewsasia.com/news/singapore/unemployment-jobless-highest-10-years-retrenchments-mom-12835166?cid=FBcna

[Yewheng]

Ya. Its getting bad.. And is just starting only.. Haven't peak yet.. 

[Solar]

13 minutes ago, RadX said:

All time high

 

https://www.channelnewsasia.com/news/singapore/unemployment-jobless-highest-10-years-retrenchments-mom-12835166?cid=FBcna

That's why low balled 40% to previous I still take. Ride out the storm first. 

[Philipkee]

21 minutes ago, Yewheng said:

Ya. Its getting bad.. And is just starting only.. Haven't peak yet.. 

I went to changi airport yesterday just to look look and buy my dinner at anw.   My first thought was it's like a ghost town.  My second thought is that when it's all over, how many of the closed shops will still be there doing business?

[Yewheng]

Just now, Philipkee said:

I went to changi airport yesterday just to look look and buy my dinner at anw.   My first thought was it's like a ghost town.  My second thought is that when it's all over, how many of the closed shops will still be there doing business?

Yesterday I fetch 1 an moh and kid to rws. While entering the basement carpark to drop off point. The carpark was quite dark, no cars, even the traffic light at the junction was turn off, quite eery feeling. 

[Lethalstrike]

2 minutes ago, Philipkee said:

I went to changi airport yesterday just to look look and buy my dinner at anw.   My first thought was it's like a ghost town.  My second thought is that when it's all over, how many of the closed shops will still be there doing business?

There will always be new ones to take their places. Don't worry about retail in SG, they come and go in cycles. Now is the worst, it's like SARS and GFC combined. As long as Changi Airport Group will survive, they will have plans to revitalise the retail spaces once things get back up. And you can be sure there will be suckers to take up the high rent at Changi Airport. 

[Throttle2]

In such situation, property going to huat huat huat. 

Not i say one. 🤭

[Wt_know]

8 minutes ago, Yewheng said:

Yesterday I fetch 1 an moh and kid to rws. While entering the basement carpark to drop off point. The carpark was quite dark, no cars, even the traffic light at the junction was turn off, quite eery feeling. 

did the angmoh and kid have fun at RWS? that's more important ... lol

[Solar]

7 minutes ago, Philipkee said:

I went to changi airport yesterday just to look look and buy my dinner at anw.   My first thought was it's like a ghost town.  My second thought is that when it's all over, how many of the closed shops will still be there doing business?

It's not a concerted effort from everyone to ride it out. Short sighted banks maintain their repayment requirements and interests, landlords still maintain their rental and don't pass gov aid to their tenants that are already suffering from loss of business.

This propagate down to employees.

These shops close down these landlords and subsequently banks will then suffer loss of income.  They will be the last ones standing.

Leaders need to rally everyone together, not just at the people at the bottom. That way everyone have a better chance of survival.

[Watwheels]

I was reading this yesterday. Overseas grad with honours drive prime mover. This probably truly reflects the state of hiring for those who needs a job.

https://www.todayonline.com/gen-y-speaks/gen-y-speaks-i-am-overseas-graduate-starting-new-career-prime-mover-driver-and-im-proud

Actually the couple of years leading to 2020 are already in bad shape. Only local news still feature how high of a starting pay a fresh grad can get. LoL...

Truth be told there are openings in blue collar jobs but no takers. This grad has tried govt ministries, admin jobs etc. It's either no vacancies or pay too low. A grad has to go drive container lorry. And the class 4 he earned during his NS as a driver vocation. At least this one can adapt and work hard rather than whine and comprain.

Edited June 15, 2020 by Watwheels

[Wt_know]

17 minutes ago, Watwheels said:

I was reading this yesterday. Overseas grad with honours drive prime mover. This probably truly reflects the state of hiring for those who needs a job.

https://www.todayonline.com/gen-y-speaks/gen-y-speaks-i-am-overseas-graduate-starting-new-career-prime-mover-driver-and-im-proud

Actually the couple of years leading to 2020 are already in bad shape. Only local news still feature how high of a starting pay a fresh grad can get. LoL...

i take this as exceptional case ...  ah gong also don't want ...  

if his degree is more market-relevant not so niche .. sure can find job in pte sector

and he got job in corporate finance but he beh song ... may be not high ranking

but with honours degree and if got "brain and skill" can climb up or switch lane eventually

many company CEO their degree is also totally not relevant to the industry

Edited June 15, 2020 by Wt_know

[Philipkee]

I tot RWS is closed? Are you sure your passengers are.....  

 

[Watwheels]

6 minutes ago, Wt_know said:

i take this as exceptional case ...  ah gong also don't want ...  

if his degree is more relevant .. sure can find job in pte sector

and he got job in corporate finance but he beh song ... may be not high ranking

but with honours degree and if got "brain and skill" can climb up or switch lane eventually

many company CEO their degree is also totally not relevant to the industry

Yeah, my first thought was he will go try teaching. I was like whoa, even that has no vacancies. I mean it's like ppl have LL taken the last option.

I think we have read about many ppl who worked in finance/banking sector but quit to become pastry chef or become hawker blah blah blah. They no doubt have relevant studies but still chose to leave the industry. It's not for everyone. 

The govt minitries are very choosy now. Even the military dont take in delinquents and chao ah bengs. 

[Icedbs]

27 minutes ago, Watwheels said:

I was reading this yesterday. Overseas grad with honours drive prime mover. This probably truly reflects the state of hiring for those who needs a job.

https://www.todayonline.com/gen-y-speaks/gen-y-speaks-i-am-overseas-graduate-starting-new-career-prime-mover-driver-and-im-proud

Actually the couple of years leading to 2020 are already in bad shape. Only local news still feature how high of a starting pay a fresh grad can get. LoL...

The question is not so much what he started with. It is good  that he has a positive attitude and take up whatever comes first while riding through the storm. But the real question he needs to think after a while is what is the chances of progression to the management level based on his current job?

If PSA has some top executives who also started as a prime mover driver, then I think there is a career progression for that job and it will be fine.  I have worked in a construction industry before and while I have seen some mgmt executives who started as a construction site foreman,  I have never seen one who has started his construction career as a crane driver.  Because their skillset are so specialized, they often end up being in that role for a very very long time.

Edited June 15, 2020 by Icedbs

[bsswan]

1 hour ago, Yewheng said:

Ya. Its getting bad.. And is just starting only.. Haven't peak yet.. 

Agreed.

Government only now reducing 75% JSS to all companies, leaving 25% to most. My own industry is still strong but I see the wall coming Q4. The point is different industries takes different times to see impacts.

Retail, tourism and F&B hit now due to closures, others hit later when monies dry up but others will, also, surface when G infrastructure projects start to filter down. Infrastructure, though, requires the dorm workers to be available so how many of the locals will apply?

[Mockngbrd]

6 minutes ago, Watwheels said:

The govt minitries are very choosy now. Even the military dont take in delinquents and chao ah bengs. 

Gahmen jobs also attract top ppls to apply one. Dunch play play.

[Mockngbrd]

11 minutes ago, Icedbs said:

If PSA has some top executives who also started as a prime mover driver, then I think there is a career progression for that job and it will be fine.  I have worked in a construction industry before and while I have seen some mgmt executives who started as a construction site foreman,  I have never seen one who has started his construction career as a crane driver.  Because their skillset are so specialized, they often end up being in that role for a very very long time.

Prob not impossible in big companies because they can move roles within the company itself, he has the qualifications and I think if an internal opening has something for him that suits his paper qualifications, his willingness to take up a driver job within the company and willingness to learn outside his comfort zone (+ his experience with freelance writing gigs) will give him an advantage, especially over those who choose to "sit it out" during this Covid-19 situation hoping for more $$$. Him taking up a driver role within the company will confirm make his application stand out and get him in for an interview at least. 

Edited June 15, 2020 by Mockngbrd

[Yewheng]

1 hour ago, Wt_know said:

did the angmoh and kid have fun at RWS? that's more important ... lol

Don't know.. In my mind I am thinking there theme park is closed, everywhere is closed.. Wanted to ask what are they going to do there but never, coz I think mind my own business better.